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MGAs Called Critical for Florida Property Market
In Florida it's not uncommon for an insurance holding company to have an affiliated managing general agency to which it pays fees. Those fees have come in for some criticism lately by some who think that insurance companies that say they are losing money are actually funneling profits to their MGAs. State officials have looked into two cases. However, even the critics agree that the model of the MGA has been important historically and will be critical to the future of the Florida property insurance market and any problems with it are really manageable.
